Examples of Mortgage Paper in a sentence
Bank itself may at any time after the termination of Borrower’s license to collect payments due under any Mortgage Paper pledged to Bank, so notify the account debtors and/or collect payments due under such Mortgage Paper.
The Mortgage Paper mentioned herein secures and enforces the payment of the Obligations including but not limited to all sums advanced by Bank to Borrower pursuant to the Note.
Bank shall have no duty as to the collection or protection of the Mortgage Paper nor as to the preservation of any rights pertaining thereto.
Upon the occurrence of an Event of Default Bank will have the ability to take over and control all servicing rights for the Mortgage Paper pledged to Bank.
In order to induce Bank to enter into this Agreement, Borrower has represented to Bank that Borrower will promptly furnish Bank with all information needed/requested by Bank from time to time to track each item of Mortgage Paper that is pledged to Bank ("Item"), viz.
Except to Advisor and/or Asset Manager, Borrower will not sell, assign, transfer or pledge its servicing rights to any of the Mortgage Paper that constitutes Collateral hereunder.
Bank agrees that it will not mail the executed Notice Letter for each Mortgage Paper pledged to Bank until the occurrence of an Event of Default.
Notwithstanding anything contained in the foregoing to the contrary, Bank reserves the right to refuse to make an advance if Bank determines in its sole discretion, that the Mortgage Paper pledged to Bank does not satisfy the requirements of this Article 3 or does not otherwise conform to Bank's underwriting requirements for this Loan.
Borrower shall deliver to Bank at the time any Mortgage Paper is assigned to Bank by Borrower, true and correct copies of any and all lot purchase contracts or other purchase contracts relating to the purchase and sale of all or any part of the real property serving as collateral security for such Mortgage Loan, together with true and correct copies of any modifications or amendments to such purchase contracts.
Upon request of Lender, Borrower shall deliver to Lender at the time any Mortgage Paper is assigned to Lender by Borrower as provided in Section 6.14, true and correct copies of any and all lot purchase contracts or other purchase contracts relating to the purchase and sale of all or any part of the real property serving as collateral security for such Mortgage Loan, together with true and correct copies of any modifications or amendments to such purchase contracts.